Ransomware attacks: Security must be equivalent to insurance

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The continued rise in ransomware attacks is a wake-up call for all sectors – and it’s not going to subside. Our recent research with IDC revealed that 93% of cyberattacks come from financially motivated organised crime actors, with credentials being the most frequent data compromised (44%).

It’s why security must be seen equivalent of liability insurance. You wouldn’t leave your door wide open for someone to walk in, the same must be said with online security. Luckily, a password manager is the simplest tool you can use to help protect yourself. With all passwords secured in an online vault, you can easily access accounts with a mere touch of a button. It sounds so simple, but it really is. It is a basic of online safety and once you get the basics right, you have a solid foundation to build on.

Security starts and ends with employees, but the burden cannot be left on them. The onus is on security teams to be consistently providing information around security awareness best practices to new and current threats. A once-a-year training may check a compliance box but most likely won’t generate a strong security-aware culture – the key is driving consistent communications and real-time learnings helping employees protect themselves as well as the employers .